March 01, 2006

Pinnacle Entertainment Inc. has agreed to purchase the bankrupt President Casino St. Louis Riverfront for $31.5 million. The deal calls for a bankruptcy auction to be held in May, during which other companies could outbid Pinnacle for ownership of the property. Pinnacle already has committed $775 million to two other new casino projects in Missouri: one in downtown St. Louis and the other in Lemay, in south St. Louis County.